After Monday's closing bell, Sprint Nextel Corp.
S, +0.66%
said that Chief Executive Gary Forsee is stepping down, effective immediately. Forsee, who has also served as chairman and president, has come under fire as the company's subscriber growth and share price have disappointed investors. Sprint also said it now expects to report a net loss of 337,000 post-paid subscribers in the third quarter. See full story.

Watch list

Expeditors International of Washington Inc.
EXPD, +0.18%
will replace TXU Corp.
TXU
in the S&P 500 index after the close of trading on Tuesday. TXU is being acquired by a group of investors led by Kohlberg Kravis Roberts & Co. and Texas Pacific Group.

Gateway Inc.
GTW
said that it will buy all of the shares of PB Holding Co. from Lap Shun Hui and Clifford Holdings Ltd. Hui owns a 75% interest in PB Holding, the parent company of Packard Bell BV. Acer Inc., which plans to merge with Gateway, has agreed to fund the acquisition, the company said. Financial terms weren't disclosed.

Microchip Technology Inc.
MCHP, -3.39%
expects to report fiscal second-quarter net earnings of 35 cents a share, or 38 cents a share excluding the effect of share-based compensation. The maker of microcontrollers company forecast sales of $258 million to $259 million for the period ended Sept. 30, due to weaker-than-expected sales in the Americas and Asia.

Yum Brands
YUM, +0.86%
posted a 17% gain in third-quarter profit. The fast-food chain operator said its results were helped by strong growth outside the U.S., particularly in China. It also raised its forecast for the full year. See full story.

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